Swiss bankers disclosing bank account information are acting against the law. The disclosure of bank account information is a criminal act and will be punished with a prison sentence. If a client has committed a heavy crime he is not anymore authorised to claim protection based on bank secrecy laws.

Dec 18, 2015 Authorisation - Eidgenössische Finanzmarktaufsicht FINMA The Banking Ordinance applies to banks, private bankers and savings banks; it details the provisions of the Banking Act. FINMA Foreign Banks Ordinance The FINMA Foreign Banks Ordinance applies to foreign banks seeking to set up a branch in Switzerland. History of Swiss Bank Accounts | HowStuffWorks The law was enacted in large part because both Germany and France attempted to press Swiss banks into divulging depositor information in the name of the "good of the state." This federal law clearly stated that bank secrecy fell within the criminal domain, meaning any banker who divulged bank client information was punishable by imprisonment.

Banking Act, BA - KPMG Switzerland

2 days ago · Exclusive: Mishcon de Reya partner Mike Stubbs allegedly relayed offer as part of plot to release €300m from Swiss bank account Harry Davies A lawyer at one of the UK’s most prestigious law Colloquially known as the Banking Law of 1934 or the Swiss Banking Law of 1934, it codified banking secrecy. The Federal Assembly enacted the law to quell controversy over the alleged tax evasion of wealthy French businessmen, military generals, and Catholic bishops.

Swiss Banking privacy and secrecy has been in force since as far back as banks can trace their origins, and officially codified as part of Swiss laws, with severe criminal penalties for any violations, since the Swiss Banking Law of 1934. This law was enacted as a direct result of French Socialist-fervor pressure, and German Nazi attempts at

Nov 21, 2012 · The 1934 Swiss Bank Secrecy Law, still in effect, was a direct response to the rise of Hitler and the threat of war. Seventy-eight years later, savvy Argentines are escaping that country’s ruinous policies by banking in neighboring Uruguay, and Putin’s beleaguered Russian business people are pouring billions of rubles into banks in far more Feb 06, 2020 · Potential customers living outside of Switzerland who wish to open a Swiss bank account but cannot visit a branch in person may be able to request an application package by mail. Documents provided by the potential customer will need to be authenticated, either by a notary, an employee of the Swiss bank, or an employee of a correspondent bank Feb 19, 2009 · The tradition of banking competence dates back to the revocation of the 1685 Edict of Nantes which was a major step in the history of bank de-regulation. Secrecy dates to the Swiss Banking Act of